Real estate is still the gateway to unlimited wealth, says premier real estate investor Abdul Siddiqi
A 19th-century Scottish-American billionaire once said that 90% of millionaires acquired their wealth by investing in real estate. More than a century later, this observation is still accurate. Abdul Siddiqi, one of the top real estate investors today, shares his passion for real estate investing and his viewpoints on wealth accumulation and management.
Abdul considers real estate investment one of his greatest passions. He developed a keen interest in the industry at the early stages of his career when he worked as a realtor, mastering the art of closing deals. After seeing his clients make hefty returns on their investments, he realized that the gateway to unlimited wealth and abundance is real estate.
Moved by the motivation to see himself earn more and increase his portfolio, he was pushed to learn everything he could about the industry. So, for the past 16 years, he honed his skills and expanded his knowledge, committed to learning the ropes of real estate investing. This gave him first-hand experience in the nitty-gritty details of real estate, from buying to lending and from brokering to developing.
After gaining confidence, he started to make small investments of his own, ensuring that he also learned something crucial about the industry with each acquisition. In time, he became more confident and began taking on larger projects with the potential for higher returns.
It didn't take long for Abdul to develop the ability to find and purchase distressed single-family residences and multi-family homes. With each purchase, he can identify the best course of action for the property, whether to flip it or keep it in his growing portfolio. Currently, Abdul has a combined value of assets he has owned, managed, brokered, and developed close to $100 million, proving real estate is the entry-point to wealth.
But, while Abdul believes that real estate is a profitable investment vehicle, it still requires much knowledge and skill, and caution should be exercised. All his years of learning the industry provided him with the capacity to understand all aspects of each transaction and add value to an asset by knowing what will give the greatest return--this uncanny skill which took him years to hone, proved invaluable in every investment he made.